Adherium builds on IPO with big pharma partnerships
Last updated: 02:00 06 Oct 2015 EDT, First published: 01:00 06 Oct 2015 EDT
Recent IPO Adherium (ASX:ADR) which boasts global biopharmaceutical company AstraZeneca as a cornerstone investor is making strides as the company’s Smartinhaler platform was lauded in paediatric asthma management in three independent studies.
In August, $35 million was raised by the New Zealand based company in an oversubscribed listing on the ASX.
The Sheffield study showed a substantial reduction in the need for oral steroids, indicating a significant reduction in severe attacks and an increase in lung function.
AstraZeneca is a commercial client and Adherium has a 10 year supply and development agreement with it, which is one of three partnerships with multinational pharmaceutical companies.
Adherium's SmartInhaler has been used in clinical trials in 29 countries. Its direct competitors are Propeller Health, Gecko Health Innovation and Cohero Health.
Adherium aims to address sub-optimal medication use in chronic disease and improve medication adherence for patients.
Adherium designs, manufactures and supplies health devices such as prescription tool Smartinhaler for people with respiratory diseases such as asthma.
It tracks whether patients are adhering to their asthma medication schedules and sends the data to a smartphone app to enable better health and medicine management.
The IPO involved the quotation of 105 million shares at $0.50 per share. Last trade was $0.605.
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